National Debt To Hit $16,000,000,000,000 During Democratic Convention
The Republicans had to deal with Hurricane Isaac. The Democrats have to deal with the National Debt hitting another inauspicious milestone:
Bad timing for Democrats: The gross national debt is set to hit $16 trillion Tuesday as the party’s convention gets underway, and Republicans are pouncing.
“This is a grim landmark for the United States,” Sen. Jeff Sessions (R-Ala.), chairman of the Senate Budget Committee, said in a statement. “That’s more government debt per person than Portugal, Italy, Spain, or Greece. Yet the President seems strangely unconcerned.”
In an interview on Fox News Sunday, Obama senior campaign adviser David Axelrod said the president’s economic plan would lower the debt by $4 trillion over a decade. But moving too aggressively, he added, could backfire.
Well, that’s unfortunate.
Update: Well, it’s official. The Treasury Department’s Debt To The Penny calculator places the National Debt as of today at $16,015,769,788,215.80. That’s an increase of $5,388,892,739,302.72, or 50.71%, since President Obama took office.